During this program, we will do a line-by-line review of the forms and the subsequent tax reporting to the IRS. This program will focus on what a US financial institution has to do from the tax reporting and documentation process to be prepared for FATCA. We will also look at the impact on 1042S reporting changes for nonresident aliens. Your job as a withholding agent has never been so important and the forms emphasize your importance in the tax reporting chain that affects this country and accounts for US persons overseas.
What You’ll Learn
Exemption codes on the W-9 and FATCA exemption codes
SSNs, ITINs and EINs who needs what
IRS reporting on the 1099 Int and the 1042S
What happens when name and TIN do not match?
B notices and fines
How does the IRS set up name control files?
What is a nonresident alien? What if there is no country address?
Documenting GIIN for foreign financial institutions
Who Should Attend
This webinar is designed for deposit operations, deposit compliance, new accounts, bookkeeping, IRS reporting specialist and any person who opens accounts or reports interest to the IRS.
Continuing Education (CE) Credits
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.
Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit R... read more.
INCLUDES 30 DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a phone for the audio. You can type and send your questions to the instructor. And don’t worry if you miss the webinar, you can still view it for up to thirty days after it takes place!
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